What discount broker do you use?

mugston

I am with Interactive Brokers - well trusted with a good track record.

Fees are 0.05% of transaction fee for UK traded, or if buying from Amsterdam exchange it's still 0.05% but maxed at €29 per trade.

Market data subscription costs £5 - £7 per month for a basic package that will work for most investors, if you want one.

I would like to diversify to at least one more broker - what one do you guys tend to use and how low are the fees?

Thanks.

Mark_d

I'm starting out with Trading 212.  There don't appear to be any fees

jimjames

iWeb. £5 per trade

nottsphil

Mark_d said:

I'm starting out with Trading 212.  There don't appear to be any fees

How do they make their money?

Beddie

nottsphil said:

Mark_d said:

I'm starting out with Trading 212.  There don't appear to be any fees

How do they make their money?

CFDs, spreads, exchange rates. From ISAs - nothing, yet, I imagine.

wmb194

mugston said:

I am with Interactive Brokers - well trusted with a good track record.

Fees are 0.05% of transaction fee for UK traded, or if buying from Amsterdam exchange it's still 0.05% but maxed at €29 per trade.

Market data subscription costs £5 - £7 per month for a basic package that will work for most investors, if you want one.

I would like to diversify to at least one more broker - what one do you guys tend to use and how low are the fees?

Thanks.

It depends on what I'm buying and selling and where but recently I've been using Trading 212 the most. If you deposit euros in the GIA you can trade in places like Amsterdam, Paris and Frankfurt for free.

https://monevator.com/compare-uk-cheapest-online-brokers/

mattywallace121

I use Freetrade.

Alexland

For my main accounts Fidelity SIPP (capped), AJ Bell LISA (capped) and II ISA (while on a cashback deal then will switch back to iWeb). I have my current year ISA with T212 for their ISA contribution cashback offer but would not trust them with large amounts. My accounts are fairly inactive so trade costs are rare as dead investors seem to outperform those that are alive. My trades are mostly just new contributions into the LISA or automatic divi reinvestment in the SIPP. New pension contributions get invested into a tracker fund in my workplace pension which for the past 5 years has been so cheap it's no longer worth doing occasional lump sum transfers into the SIPP. I try to hold just one investment per account and maybe switch one investment choice a year but I'm trying to reduce that. In recent years my strategy of 'masterly inactivty' has earned me more than going to work every day.

Futuristic

Mark_d said:

I'm starting out with Trading 212.  There don't appear to be any fees

T212 use Interactive Brokers for custody so if OP is looking to diversify it's not a good option.